Well management firm Exceed has achieved record-breaking turnover in the past year, with 50% of the company’s revenues coming from energy transition activity.
The Aberdeen-headquartered firm reported £29 million in turnover from, the result of activities across the full asset lifecycle in the UK and internationally.
Exceed also said it operates in seven of the nine applications for wells in the energy transition, with 50% of revenue attributed to North Sea decarbonisation.
Exceed said its work included the ongoing redevelopment of Centrica’s Rough field for hydrogen storage and Spirit Energy’s carbon storage cluster.
In decommissioning, Exceed highlighted recently completed work on a vessel-based decom campaign for Serica and will soon commence a multi-well campaign in Q4 with Norwegian vessel owner DeepOcean.
Exceed also recently secured a well management contract with Apache for its North Sea assets, alongside existing long term relationships with Serica, Ping and Anasuria Operating Company.
Exceed international growth
Internationally, the company is establishing a Namibian base in the high-potential Orange Basin for services for existing client Galp, alongside a multi-well contract with independent explorer Rhino Resources.
Exceed managing director Ian Mills said: “With 30 projects currently live, Exceed is experiencing its most prolific period which us reflected by our highest turnover, an increasing global head-count and an exceptionally robust pipeline for 2025.
“This growth is undoubtedly the result of our resilience, diversification and investment to retain our team during the pandemic, with our market reputation underpinned by exceptional relationships built with our clients, and the quality of work we undertake across the entire asset lifecycle.
“We remain passionate in our commitment to decarbonisation and are proud of the fact that 50% of our activity sits within this sphere.
“However, we also apply a highly rational approach to support the energy transition by ensuring energy security and affordability at home and internationally through our subsurface, well engineering, subsea and drilling capabilities.”
